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Apple announces 7:1 stock split, increased share buyback, dividends

Apple today announced a seven-for-one stock split, with shareholders receiving six new shares for every one they own at the close of business on June 2, 2014. This is the first split since 2005. The company’s share repurchase program will be increasing from $60 billion to $90 billion, and has raised its dividend to percent%. This puts it at $3.20 per common share, payable on May 15, 2014.